I’m starting to run the risk of being called a “top caller” as the Alibaba I.P.O stirs further “bullish euphoria” across markets here this morning.I can live with that – if people are willing to consider this a ” 7 month topping process”.
The fundamentals clearly suggest global growth is set for a significant downturn moving forward, and it’s impossible to argue that. Trading is trading and investing is investing. You make your own choices.
I’ve traded through it as we all have – with some fantastic wins, a couple of losses but most importantly with caution. The time to step on the gas will come, and even while “pumping the break” 400 pips short AUD there and ( just over the last 48 hours really ) another 300 or so long GBP/USD as suggested some days ago.
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Obviously another day with markets at all time highs, and the media blast right along with it. Buy,buy – you must buy now!
I’m not buying it. You know this by now.
The Japanese Yen is a “hair away from bottoming” as USD soon looks to take its “intermediate journey” lower, and there along side it will be U.S equites. It “is what it is” for another day here with very few irons in the fire, patiently plugging away and taking the trades that come.
Re entry ( or your first ) here long GBP / USD around 163.00 looks fantastic, as USD slooooowly runs out of gas.
More in the weekly report Sunday evening, and via “real time market commentary” during every trading day at www.forexkong.net/register